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XRP Origin Debate Resurfaces as Ripple's Ex-CTO Says Concept Existed Before Bitcoin

Former Ripple CTO David Schwartz has re-engaged the debate regarding XRP's origins
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, affirming that the predecessor payment network concept indeed existed five years before Bitcoin
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, but XRP itself did not.

Schwartz responded via X after a social media post claimed that XRP predated Bitcoin by decades. The post called XRP the oldest digital asset, a label that Schwartz directly addressed by drawing a clear line between the early concept and the coin now managed by Ripple.

What Ryan Fugger Designed in 2004

Ryan Fugger designed the concept of a decentralized payment and settlement network around 2004. This concept emerged roughly five years before Satoshi Nakamoto released the Bitcoin whitepaper.

Schwartz confirmed this timeline on X, but highlighted a crucial missing element. Fugger's design did not include a decentralized asset at all. The system, later known as RipplePay, functioned as a trust-based credit network.

Users transferred value through pre-existing trust relationships instead of using a shared cryptographic ledger. There was no native token and no open asset that could be traded independently.

Schwartz also emphasized that distinction on X.

But, that separation is indeed important. Bitcoin introduced an open bearer asset secured by proof of work. Meanwhile, the XRP Ledger introduced its own model for decentralized value transfer, but arrived after Bitcoin, not before.

XRP Launched Three Years After Bitcoin

The XRP Ledger started operating in 2012, three years after Bitcoin's genesis block was mined in January 2009. Jed McCaleb, Arthur Britto, and Schwartz together built the protocol before Ripple eventually took over its management.

This timeline directly debunks the claim from 1988. Fugger's concept did predate Bitcoin, but that concept was not a coin. Both the XRP Ledger and the XRP token are recorded as launching in 2012.

This difference holds more significance than just historical matters. Ripple's CEO also criticized Bitcoin's corporate strategy, reflecting the broader tension between the two communities.

This debate reflects a pattern often seen in the crypto asset industry. Origin stories often confuse ideas with their execution. Earlier this year, claims that Bitcoin was created by the CIA also faced widespread rejection with a similar dynamic pattern.

XRP Holds Near $1 Amid Ripple's Expansion into Europe

The token recently tested the psychological $1 level after a sharp correction from its earlier highs. Some investors still view the coin as a long-term inflation hedge, although analysts find it mathematically difficult to justify at current prices.

Schwartz remains active in the community even beyond the XRP origin issue. Recently, he discussed the difference between investing and gambling in a post that sparked its own debate among holders.

How far back XRP's historical roots go may be less important than Ripple's future direction. Recently, the company obtained European MiCA approval through a license in Luxembourg, expanding their regulatory reach on the continent.